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Call Dan at 513-443-2020 | Markets Turn Bad Ahead Of Friday’s Jobs Report
Posted on July 5, 2007
Filed under Economic Releases
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All day, mortgage rates were feeling pressure to move higher and then in the last two hours, the heat intensified. Many mortgage lenders are re-issuing rate sheets this afternoon to reflect the change in market dynamic.
Rates are pressured partly because of the ADP jobs report released earlier today. The report predicts that tomorrow's 120,000 estimated jobs created in June is way below the actual number.
Job creation --> Spending --> Economic Growth --> Inflation
The safe play right now is to lock your mortgage rate in ahead of tomorrow's 8:30 A.M. ET release. When you lock your rate, there is no losing scenario.
Dan Green is an active loan officer. Email or call 513-443-2020. Dan is on Twitter at @mortgagereports.
